Galp Energia, SGPS (OTCMKTS:GLPEY) Rating Lowered to Neutral at The Goldman Sachs Group

Galp Energia, SGPS (OTCMKTS:GLPEY – Get Rating) was downgraded by investment analysts at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research note issued to investors on Wednesday, The Fly reports.

Several other equities research analysts also recently commented on GLPEY. Sanford C. Bernstein upgraded shares of Galp Energia, SGPS from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 4th. Barclays boosted their target price on shares of Galp Energia, SGPS from €13.00 ($14.13) to €14.00 ($15.22) and gave the company an “overweight” rating in a research note on Wednesday, April 6th. Jefferies Financial Group upgraded shares of Galp Energia, SGPS from a “hold” rating to a “buy” rating in a research note on Tuesday, December 14th. Zacks Investment Research upgraded shares of Galp Energia, SGPS from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a research note on Friday, April 8th. Finally, Morgan Stanley downgraded shares of Galp Energia, SGPS from an “equal weight” rating to an “underweight” rating in a research note on Friday, April 8th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $10.43.

GLPEY traded up $0.11 during trading on Wednesday, reaching $6.49. 24,173 shares of the company’s stock were exchanged, compared to its average volume of 80,617. Galp Energia, SGPS has a fifty-two week low of $4.55 and a fifty-two week high of $6.60. The company has a quick ratio of 1.21, a current ratio of 1.51 and a debt-to-equity ratio of 0.72. The business has a 50 day moving average price of $5.92 and a 200 day moving average price of $5.44. The company has a market capitalization of $10.76 billion, a P/E ratio of -64.85 and a beta of 0.81.

About Galp Energia, SGPS (Get Rating)

Galp Energia, SGPS, SA operates as integrated energy operator in Portugal and internationally. The company operates through four segments: Upstream, Refining and Midstream, Commercial, and Renewables and New Business. The Upstream segment engages in the exploration, development, and production of hydrocarbons primarily in Brazil, Mozambique, and Angola.

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